Inflation well under control even though economic growth this year is expected to be 7-8% (BUDAPEST) Singapore Prime Minister Lee Hsien Loong yesterday said that he did not believe the Republic’s economy was overheating, with inflation under control despite firm economic growth. ‘This year, we expect 7-8 per cent growth. It’s a good figure but […]
Archive | October 10, 2007
Reality bites Resorts World at Sentosa
MARK Burnett – creator of reality TV shows like Survivor and The Apprentice – has tied up with Genting International to produce TV and game shows for the region. Speaking at a tele-conference yesterday, US- based Mr Burnett, president and founder of Mark Burnett Productions, said that filming for the first show could begin as […]
Shophouses in the CBD for sale
A BLOCK of 13 conservation shophouses in Telok Ayer and Boon Tat streets is for sale through an expression-of-interest exercise at an indicative price of $67 million. This works out to about $1,200 per square foot based on the gross floor area of some 56,000 square feet. The shophouses are on land that totals 16,987 […]
Singapore Roundup
Interest in old Tiong Bahru flats A STATE property consisting of some old flats at Tiong Bahru Road has attracted much interest, with the highest bid of $230,280 per month coming from Katong Hostel Pte Ltd. Blocks 1, 3, 5, 7 and 9 along Tiong Bahru Road, which together have 120 flats with a total […]
Citigroup buys stake in Nitesh Estates: report
(MUMBAI) Citigroup will pay around US$250 million for a minority stake in Indian real estate firm Nitesh Estates, the Economic Times said yesterday. The deal would see Citigroup partner privately owned Nitesh in the Indian firm’s hospitality venture, which involves setting up at least five luxury hotels and possibly malls also, the newspaper said, citing […]
KL extends IDR incentives to developers
PM says ‘customised incentive packages’ for bigger investors with specific needs can be considered IN KUALA LUMPUR THE first section of Malaysia’s planned Iskandar Development Region, across the straits from Singapore, was yesterday identified for special incentives for approved companies. It is called Node 1 and covers 96 million sq ft – 8.9 sq km […]
Sub-prime defaults could total US$150b, says S&P
Crisis will not peak until 2009, but emerging markets offer silver lining (MUMBAI) The US subprime housing crisis will not peak until 2009 and total defaults could reach US$150 billion, rating agency Standard and Poor’s said yesterday, but robust emerging markets would help keep global growth strong. S&P expected the world economy to grow 3.6 […]
IMF cuts growth forecasts, warns of downside risks
World growth seen at 4.8% next year, driven mainly by emerging economies ROME – THE International Monetary Fund (IMF) has slashed its forecast for growth in the United States next year and made more modest downward revisions to its outlook for the euro zone and Japan, Italian news agency Ansa reported yesterday. Citing a draft […]
Marina Bay condo to be launched next year
Developers expect high prices, with smaller units costing at least $4m-$5m MARINA Bay Suites, the second and last residential block at the Marina Bay Financial Centre, will be launched early next year, as prices in the area continue to climb. The developers – Cheung Kong (Holdings)/Hutchison Whampoa, Hong Kong Land and Keppel Land – are […]
Next-gen HDB housing to offer greener lifestyles
Minister notes keen interest in such housing: 80% of first eco-precinct taken up SINGAPOREANS increasingly aspire to greener lifestyles and the next generation of public housing will cater to these needs. Minister for National Development Mah Bow Tan delivered this message on growing interest in environmentally sustainable housing at the annual Housing Board awards and […]
MANAGING AGENT FOR 120 FLATS – Katong Hostel top bidder in HDB tender
A SMALL firm, Katong Hostel, has emerged as the top bidder in a tender to find a managing agent to lease out 120 HDB flats. The flats – likely to be let to international students and expats – have been vacated ahead of redevelopment under a pilot HDB scheme. They will be leased out for […]
